Monday, September 4, 2017

NQ Guideline For Tueday

NQ traded briefly above double-top resistance of about 5996 on Friday but was quickly sold  pushing NQ back down below 5996.
 
5996-6000 will be key price level for NQ on Tuesday.
-- Failure to break-back above those price level is going to attract some heavy selling. If so, the next strong support will be 5900, although there are some potential supports at 5975 and then 5940.
-- Intervention by the Fed could push NQ back up above 5996, and could cause a large short-covering rally.
 
Tensions between the United States and North Korea is going to be a heavy drag on the stock market. On Sunday North Korea exploded hydrogen bomb which is certain to infuriate President Trump. 
Image result for north korea h bomb test